The fitness and recreational sports centers market is projected to witness growth over the next five years. Between 2022 and 2027, the market’s value is anticipated to increase by USD 88.61 billion, expanding at a Compound Annual Growth Rate (CAGR) of 9.97%. Numerous global and regional companies contribute to this market, leading to its fragmentation. Notable companies in this market include 24 Hour Fitness USA LLC, CrossFit LLC, Crunch LLC, Curves NA Inc., David Lloyd Leisure Ltd., and several others. For those interested in a detailed list of these companies, their strategies, and recent developments, Technavio has released a market research report on this topic.
CrossFit LLC, for instance, provides fitness and recreational sports centers, with offerings such as Crossfit Blackfire. In terms of geographical market share, regions like North America, APAC, Europe, Middle East and Africa, and South America are considered. APAC is expected to dominate, contributing 40% to the global market growth in the coming years. North America is another region to watch, especially with the increasing number of elderly individuals joining fitness and recreational sports centers. This growth is further driven by the introduction of advanced fitness equipment tailored to the needs of older adults. One such product is the SciFit AC5000M Clinical Grade Treadmill, specially designed for older users. Moreover, Canada is one of the primary contributors in North America due to growing health awareness and government-backed fitness initiatives.
Key factors influencing this market include the rise in healthcare costs and a growing trend towards online fitness training. However, a challenge faced by this sector is the high drop-out rate among subscribed members of fitness centers. As for market segmentation, the male demographic is expected to hold a significant share in the forecasted period.
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